Velo, in collaboration with its partner Lightnet, today announced a groundbreaking partnership with the Solana Foundation to pioneer digital gold transactions in Laos. Through the signing of a Memorandum of Understanding (MOU), the Solana Foundation will serve as the blockchain settlement layer. On the other hand, Velo will act as the backbone infrastructure layer and designated clearinghouse for Laos’ digital gold transactions.
🚨 Game Changer Alert!
Velo & Solana Foundation redefine digital finance for Laos’ 7.7 million people 🎉
We are excited to announce our partnership to create a state-of-the-art clearinghouse for the digital gold transactions in Laos!
Get ready for ultra-safe, super-fast… pic.twitter.com/EL9Ijn0xg9
— Velo-official (@veloprotocol) April 8, 2024
Solana and Velo improve Blockchain connectivity
The partnership with the Solana Foundation is poised to revolutionize digital asset transactions. By combining Solana’s leading blockchain technology with Velo’s infrastructure, the partners will create a highly effective and secure platform for processing digital gold transactions settled on the blockchain.
This key function ensures the validation and visibility of various transactions, developer trust between counterparties, and ensures seamless execution of contractual obligations between system buyers and sellers settled on the Solana blockchain. They will also deploy a robust bridging mechanism that aims to improve interoperability between Solana’s L1, the Nova ecosystem and EVM-based chains. The effort underlines a vision to make blockchains interoperate and reduce barriers to entry for digital assets across chains.
Additionally, the partnership solidifies a plan to develop a clear liquidity management framework for the digital assets. Facilitation is the plan that serves a regional and broader market with services. The agreement will see the two companies establish transparent and effective management protocols to meet asset liquidity needs and improve asset accessibility.
Velo and Solana Foundation are working together to improve the accessibility of digital assets
The Velo and Solana Foundation partnership is a strong measure. It is in line with the desire to ensure the accessibility of digital gold in the Laos market. Using Velo’s financial infrastructure and Solana Foundation’s blockchain capabilities, the two teams will create a secure and effective way to engage in digital gold transactions. This will endorse the accessibility of digital gold as it attempts to create a secure store of value in the digital assertion world.
Finally, the partnership is a step that demonstrates shared innovation in the world of digital assets. It will endorse the use of the digital claim as the most recommended way to use the digital platform. It will ensure ease of doing business and individual transactions in a fully acceptable manner.